How Will Rising Interest Rates Affect the Market?

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Lately, I have been hearing the same question: how will rising interest rates affect the market? Interest rates have crept up in the past 30 days from a little below 4% to about 4.5% now. Because of this, there is a great sense of urgency for buyers. They want to avoid the possibility of paying a higher interest rate if they wait. This is great news for sellers on the market now.

If interest rates increase to 5%, the market will slow down a bit, but with current interest rates, buyers are ready to purchase your home. If you have any real estate questions or are looking to buy or sell, please don’t hesitate to call or email me.